Merger Leads To Special Dividend
KANSAS CITY, Mo.-Members of Midwest United CU will receive a special dividend of $6 million, or an average of $191 each, when they merge into giant Community America CU. Branches of the $165-million Midwest United will adopt the Community America name after completion.
Colloquium Set For Chicago
MADISON, Wis.-The Filene Research Institute said it will join with Loyola University of Chicago to host a colloquium, "Building a Culture of Credit Union Excellence" on Dec. 14 in Chicago. Loyola University Chicago Prof. K. Dow Scott will host the event, which will discuss compensation systems and organizational processes that drive innovative cultures, engaged employees and aligned organizations.
For info: www.filene.org.
Punch Returns To Pacific Services
WALNUT CREEK, Calif.-The $1-billion Pacific Services CU has named Steve Punch, its former chief of operations, as its new CEO. Punch will succeed Tom Smigielski, who is retiring after 17 years. Punch worked for Pacific Service from 1991 to 1995, when he left to run First City CU in Los Angeles. Prior to 1991 he worked as an executive at Alaska USA FCU for 13 years.
CUES Renames Two Divisions
MADISON, WIS.-CUES has renamed its director and supplier membership divisions. CUES Directors Educational Forum (DEF), created in 1987, will become CUES director of membership. The CUES Financial Suppliers Forum (FSFT), created in 1989, will become CUES Supplier Membership. In both cases, all related names and awards will also be changed. Separately, CUES has changed the name of its CEO Network to CEO Network: A CUES Member Quorum.
For info: cues.org.
Two Ohio CUs In Merger
EUCLID, Ohio-The $30.7-million Eaton Family Credit Union has absorbed via merger the $6.4-million All Employees CU, Willoughby Hills, Ohio.
AECU issued a statement saying it sought to merge given regulatory and legislative pressures.
